This thing would be great for story-boarding if it supported images and other media types. IFrame would be cool to be able to bring in external content into one of the notes. With a few more features, you got yourself a winner here. Making the controls contextual to the note could keep it simple. Let me know if you do decide to add other media types, I would be an avid user.
Nice how does one add an image, I don't see any ways to add one. As well another nice feature would be the ability to group notes. So that when a user adds an image they could drop sticky's on it and then group them so that they move together.